Bloomberg adds his own 'public option' to crowded field of healthcare
plans
Send a link to a friend
[December 20, 2019]
DETROIT (Reuters) - Democratic
presidential contender Michael Bloomberg said on Thursday he would
create a public option to provide health insurance coverage to Americans
if elected, a plan his campaign called "politically practical" but which
resembles those of other candidates in a crowded field.
There are 15 Democrats running for the party's nomination to challenge
President Donald Trump in the November 2020 election, and their
respective stances on healthcare have been major points of contention
early in the campaign.
Among the leading candidates, U.S. Senators Elizabeth Warren and Bernie
Sanders have said their Medicare for All plans would lead to elimination
of private health insurance in favor of government-run policies.
Former Vice President Joe Biden, and Pete Buttigieg, the mayor of South
Bend, Indiana, have advocated for a public option, but would also give
consumers the choice to keep their private insurers.
"The first step is to create a Medicare-like public option - health
insurance that would be administered by the federal government but paid
for by customer premiums," Bloomberg's campaign said in a two-page
proposal, arguing it would increase competition to push down costs.
Bloomberg also would seek to cap out-of-network medical charges at 200%
of Medicare rates, and work to ensure the government could negotiate
drug prices with pharmaceutical companies, capping prices at 120% of
"the average in other advanced nations."
A senior policy advisor for Bloomberg told reporters that it would cost
about $1.5 trillion over 10 years to create a public insurance option
and expand income-based subsidies for people beyond those created by the
Affordable Care Act, or Obamacare.
[to top of second column]
|
Democratic U.S. presidential candidate Michael Bloomberg addresses a
news conference after launching his presidential bid in Norfolk,
Virginia, U.S., November 25, 2019. REUTERS/Joshua Roberts/File Photo
She added that the cost would come down to about $1 trillion through
the cap on out-of-network charges, banning surprise medical bills,
and negotiating drug costs.
The campaign said it was still working on a full cost analysis, and
was relying on figures from third parties that had proposed similar
ideas.
Bloomberg, 77, a billionaire and former New York City mayor,
announced his intent to run for president last month.
In recent months, Warren's momentum has slowed in the face of
criticism from Biden, Buttigieg and other candidates that her
Medicare for All plan, which would provide federal health insurance
coverage for all Americans, is too expensive.
Warren has argued it is the only way to reduce healthcare costs and
proposed a wealth tax on billionaires to help pay for her plan.
Moderate candidates, including Bloomberg, have expressed concern
that such expansion of government programs will alienate voters in
hotly contested states.
(Reporting by Michael Martina; Editing by Bill Berkrot)
[© 2019 Thomson Reuters. All rights
reserved.]
Copyright 2019 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|